Royal Mail shares tumble again

Royal Mail stampReutersRoyal Mail shares are consistently being touted as underpriced

Royal Mail shares continue to slide for the second consecutive day after analysts voiced concerns over the delivery group’s prospects.

The Royal Mail stock price is currently down over 2% after an hour of trading at 422.20p.

In the previous session, shares tumbled by nearly 5%.

The former government owned delivery service’s stock price is being hit because of a hefty downgrade by JPMorgan.

The investment bank said that “near-term consensus earnings estimates, lack of guidance and increased competition” would weigh on Royal Mail and therefore cut its rating from overweight to neutral.

Here’s the five-day chart:

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